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Take me to the text Assume you are the bookkeeper for Moira's Wholesalers, a distributor of kitchen furniture. Your sales manager informed you that Ted's
Take me to the text Assume you are the bookkeeper for Moira's Wholesalers, a distributor of kitchen furniture. Your sales manager informed you that Ted's Retailers is unhappy with the quality of some tables delivered on August 12, 2019, and will be shipping back all of the goods. The original invoice amounted to $1,500 and the goods cout Moita's 51,000. Uning perpetual inventory system complete the journal entries for Moura's Wholesalers for each of the following independent scenarios Do not enter dollar signs or commas in the input boxes Bound all answers to 2 decimal places Enter debit accounts in alphabetical order Required a) Rather than taking back the tables your sales manager agreed to allow Ted's Retailers a 10% discount if they agree to keep the goods. Record Ted's payment in settlement of the invoice on September 12 assuming the allowance is not recorded until the settlement date. Date Account Title and Explanation Debit Credit 2019 Sep 12 3 . Collected outstanding accounts receivable b) Suppose that Ted's shipped back all of the goods on August 15 and the inventory was put back on the sales floor. Journalize the transactions. Record the sales retum transaction first Date Account Title and Explanation Debit Credit 2019 Aug 15 Record sales returns Aug 15 Restock inventory Suppose that Ted's shipped back half of the goods on August 15 and kept the other half with a 10% allowance. Journalce the transactions. Record the sales return transaction first Date Account Title and Explanation Debit Credit 2019 . Aug 15 . Record sales return Aug 15 3 Restock inventory
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